Long term capital gain - transfer u/s 2(47) - Year of assessment - What has to be taxed is the amount...

Long term capital gain - transfer u/s 2(47) - Year of assessment - What has to be taxed is the amount received or accrued and not any notional or hypothetical income. - if income does not result, there cannot be a tax, even though in book-keeping an entry is made about a hypothetical income, which does not materialize.’ - AT .....

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